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Bandini was born in Marj,[1]Cyrenaica,[2]Libya, then an Italian colony. The family returned to Italy in 1939 and resided near Florence, Italy. When he was 15 his father died. Bandini left home and found a job as an apprentice mechanic in the Freddi workshop in Milan.[2]

He made his way into auto racing from competing on motorcycles.[3] He started racing cars in 1957 in a borrowed Fiat 1100. The wealthy and kindhearted Freddi moulded Bandini's career and assisted him from the start of it.[2]

He achieved a first class victory at the Mille Miglia, in a Lancia AppiaZagato, in 1958, and a class win the same year in the 500cc Berkeley in the 12-hour race at Monza. He then raced in Formula Junior until 1961. Bandini purchased a Volpini Formula Junior car and placed third in his first race in Sicily. In 1959 and 1960 he drove a Formula Junior Stanguellini. In 1960 he placed fourth in the Formula Junior World Championship.

In 1961 Bandini became disappointed when Giancarlo Baghetti, also of Italy, was selected to drive a sponsored Ferrari by the association of Italian motor clubs FISA. However he had the attention of Mimo Dei, the team patron of Scuderia Centro Sud. He was invited to join the Scuderia Centro Sud in Formula One. At a non-championship race, he finished third at Pau. Bandini drove his first world championship race at Spa later in 1961. He retired with engine failure. During the winter of 1961-1962 he drove in the Tasman races in Australia and New Zealand.[2]

Bandini, along with Ludovico Scarfiotti, won the Le Mans 24 Hours race for Ferrari in 1963. He again became the number one driver for Ferrari, replacing John Surtees who left in mid-season of 1966. He was unlucky not to win the French and U.S. Grands Prix that year which he dominated before mechanical problems intervened while he was holding a huge lead. Bandini's best finish was a second place at the Monaco Grand Prix in a 2.4 liter V-6 Ferrari behind Jackie Stewart's BRM.

Bandini was married to Margherita Freddi in 1963 and managed a garage owned by his wife's parents in Milan. He resided in Maranello, near the Ferrari headquarters.[4]

During the making of the movie "Grand Prix" directed by John Frankenheimer, Bandini recommended the location at the harbour chicane for a crash scene in the movie filmed at the Monte Carlo circuit. According to actress Eva Marie Saint in "The Making of Grand Prix", this location was ironically the site of his own death in the race one year later.

In May 1967 Bandini was racing at the Monaco Grand Prix, running second to Denny Hulme on the 82nd lap, when he lost control of his car at the harbourchicane. He had just entered an S-turn when his Ferrari's left rear wheel hit the guard rail, sending him into an erratic skid. It impacted a light pole and overturned.[5] The car hit straw bales which lined the harbour side, rupturing the fuel tank, and sparks ignited the fuel as the car rolled over, with Bandini trapped beneath it. Marshals flipped his car upright and pulled Bandini, unconscious, out from the flaming Ferrari. It is thought that, during the effort to right the overturned car, gasoline leaked on the hot brake line or the exhaust pipe and exploded. A second fire occurred when the gas tank exploded after Bandini had been pulled away from the Ferrari.[1]

Bandini's burns were extensive, with third degree burns covering more than 70% of his body. The worst burns were on his arms and legs with slight burns on his face. After a delay Bandini was moved to a hospital in Lyon, France, which specialized in the treatment of burns. Other options considered by the doctors were flying in skin grafts from Italy [1] or a specialist burns unit team from East Grinstead in England. The burns caused severe lesions. He also sustained a chest wound and ten chest fractures.[5]

Three days later, Bandini succumbed to his injuries. He died at Princess Grace Polyclinic Hospital in Monte Carlo. There were concerns about the promptness of Bandini's rescue. However, investigators from the Principality of Monaco ruled on 10 May "that the security operation had functioned properly."[3] The straw bales, having been banned from all Formula 1 races in response to the accident, were replaced by an extended guard-rail the following year.[6]

Bandini's funeral was held in Reggiolo on 13 May.[7] 100,000 people attended the funeral.[8] He was later buried in the Lambrate cemetery, in Milan.[9][10]